- PayPal’s support for Litecoin triggered the recent upward price action.
- LTC/USD loses steam towards $60 as investors sell the news; correction to $50 is likely.
Litecoin traded within a whisker of $70 in August following a remarkable recovery from March’s crash. However, the cryptoasset resumed the downtrend within a descending parallel channel. For more than two months, LTC/USD sustained nursed wounds but was treated to occasional pull-ups.